Question:Which of the journal entries below is incorrectly recorded? 

A Dr: Cash, Cr: Investment in ABC Co. - Sale of an investment for cash 
B Dr: Prepaid Insurance, Dr: Cash - Paid in advance for a 1-year insurance policy 
C Dr: Accounts Receivable, Cr: Merchandise Inventory - Returned defective merchandise for credit 
D Dr: Machinery, Cr: Notes Payable - Gave a 1-year note to acquire machinery 

+ Answer
B 

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Md. Habib Ullah

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